Bit 🐳 Ish on Nostr: Devil is in the details. An ETF at least has oversight and legal responsibilities ...
Devil is in the details. An ETF at least has oversight and legal responsibilities around reserves and is regularly audited.
Issuers of wBTC only have to say: trust me bro. There is no audit (that I'm aware of). For all we know wBTC issuers hold just as much bitcoin as FTX did.
Published at
2025-01-21 19:06:22Event JSON
{
"id": "e761a3ef3cd7c58825836c55616d77c9f08c5fd412007beda47145037c3297b8",
"pubkey": "8e27ffb5c9bb8cdd0131ade6efa49d56d401b5424d9fdf9a63e074d527b0715c",
"created_at": 1737486382,
"kind": 1,
"tags": [
[
"e",
"3103d02c40c459b1042ab01de49b6e2f5ed7904eda357c24ca99611d0788c03c",
"",
"root"
],
[
"e",
"681d5db4002b7489e063acd279d2316ad9b0ed485f691b71723472ab551d7f88"
],
[
"e",
"1bebcab5b713bd91e18f9876dffbb7e3f4fe0336bb926dd275eee2b6066248f3",
"",
"reply"
],
[
"p",
"8e27ffb5c9bb8cdd0131ade6efa49d56d401b5424d9fdf9a63e074d527b0715c"
],
[
"p",
"6ad3e2a34818b153c81f48c58f44e5199e7b4fc8dbe37810a000dce3c90b7740"
]
],
"content": "Devil is in the details. An ETF at least has oversight and legal responsibilities around reserves and is regularly audited.\n\nIssuers of wBTC only have to say: trust me bro. There is no audit (that I'm aware of). For all we know wBTC issuers hold just as much bitcoin as FTX did. \n",
"sig": "73e28704cc1f2792db63ea5e7420541e49ea96952ee5835c76223b90bc453530f01c93b57946e39f4f6952673850b45c9d8a3c334a914734f466c5670657ddd4"
}
